Political Quotes

“I reject the amendment from the ranking member, and I urge my colleagues to do the same. I reject it because it undermines the premise of the chairwoman's bill. The premise of the chairwoman's bill is not prudential underwriting as a core premise of our economy which, of course, we need. It is not about payments for goods and services which is obviously a pillar of the United States system of business. It is about fairness. It is about fairness in the allocation of credit and fairness in the collection of debt. What the chairwoman has put forward and what the amendment from the ranking member would undermine is a bill that recognizes that people should not be punished for circumstances outside of their control. They should not be precluded from accessing credit for something that happened to them that they did not wish upon themselves, and that they had no volition in doing. For example, this bill would ensure that medical debts do not prohibit people's access to credit. The senior Senator from my home State of Massachusetts famously demonstrated that medical bankruptcies were plaguing the middle class and the working class in this country. Indeed, the Consumer Financial Protection Bureau has reported that medical debt has a significant impact on consumer credit.…”